GBP/JPY - Trend Reversal

Today we have one for the trend traders on a Weekly chart with GBP/JPY .

Straight away you can see price has broke the lows of 2015 and 2014, continuing down into the 155.000 area before retracing. We are now trading below the 200 EMA which I consider a major confirmation for a trend reversal, if we start trading above it this setup would be considered invalid.

I'll be going into the lower time-frames for additional analysis, there is a lot of picture perfect setups already including a head and shoulders on the 4h chart.

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That is exactly how I am seeing it. Am I the only one who saw the gap down??!! I also see more traders looking to get long than short and that is another indicator that the price is going down. Thank you for sharing